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Annual General Meeting ANNUAL GENERAL MEETING Management Proposal Manual for participation in Shareholder’s Meeting April 29th, 2020 TABLE OF CONTENTS Message from the Chairman of the Board of Directors ......................................................................................................................03 Message from the Chief Executive Officer ...........................................................................................................................................04 Invitation ...................................................................................................................................................................................................05 Procedures and Terms……......................................................................................................................................................................06 Matters to be resolved in Annual General Meeting: 1) Examine, discuss and vote on the management statements and financial statements for the fiscal year ending December 31 2019 Management Statements ..............................................................................................................................................................09 Financial Statements ......................................................................................................................................................................09 2) Examine, discuss and vote the proposal for the allocation of net income for the fiscal year and the distribution of dividends Allocation of net income ...............................................................................................................................................................10 Distribution of dividends .................................................................................................................................................................10 3) Establish the number of members of the Board of Directors…....................................................................................................10 4) Elect the members of the Board of .Directors ..............................................................................................................................11 5) Establish the amount of compensation of the members of Management................................................................................14 6) Establish the number of members of the Fiscal Council……........................................................................................................14 7) Elect the members of the Fiscal Council........................................................................................................................................15 8) Establish the amount of compensation of the members of the Fiscal Council.........................................................................16 Attachments I. Notice to the Market for Public Proxy Request .................................................................................................................................18 II. Form of Proxy and Information of Annex 23 of Rule 481/09 ............................................................................................................19 III. Management Report and Analysis ..................................................................................................................................................22 IV. Management’s Comments on the Corporation’s Financial Condition ......................................................................................40 V. Financial Statements and Explanatory Notes .................................................................................................................................74 VI. Independent Auditors’ Report .......................................................................................................................................................133 VII. Report and Opinion of the Audit Risk Management Committee and Fiscal Council .............................................................138 VIII. Capital Budget Proposal and Officers’ Representations ...........................................................................................................142 IX. Proposal for Application of Net Profit .............................................................................................................................................146 X. Information on the Candidates Appointed by Management .....................................................................................................149 XI. Additional Information on Management Compensation ...........................................................................................................156 XII. Call Notice........................................................................................................................................................................................182 2 MESSAGE FROM THE CHAIRMAN OF THE BOARD OF DIRECTORS Dear Shareholders, We invite you to participate in the Annual General Meeting (“AGM”) called for April 29, 2020 at 1:00 p.m. (Brazil) at the Company’s head office at Av. Joaquim Porto Villanova, 401, Jardim do Salso, Porto Alegre/RS – Brazil. Lojas Renner S.A. was the first widely held company in Brazil and for this reason, over the years, it has been necessary to develop innovative mechanisms for the organization and execution of corporate actions such as the adoption of both the pioneering Manual for Participation in Shareholders’ Meetings, along the lines of proxy statements characteristic of foreign companies, as well as the use of the public request for a power of attorney mechanism. The Company also employs the remote voting system allowing investor manifestations via ballot, shareholders being able to choose the most convenient way of taking part in the meetings: (i) personally, (ii) by the remote voting system, (iii) by representation or (iv) by the request for a public request for a power of attorney prepared by the Company. In addition, the Company also counts with the Corporate Governance Secretary that support the activities related to the functioning of governance, the servicing of and interaction with shareholders and proxy advisory agencies, including matters related to general meetings. The year of 2019 was characterized by transition in the Corporate Governance dimension. After 28 years as Chief Executive Officer, I took over the position of Chairman of the Board with support in the strategic decisions and the preservation of the company's corporate culture, and Fabio Adegas Faccio succeeding me as the new CEO. I would like to thank the extreme dedication of Osvaldo Burgos Schirmer, who was our Chairman from 2013 and 2019, and who has assumed the position as Vice Chairman of the Board and Carlos Fernando Couto de Oliveira Souto, who has been Vice Chairman since 2016, continues with us as a Member of the Board of Directors. In addition to this and aligned with the culture of formers of leaders and continuing the work of formation and recognition of inhouse talents as well as in support of the Company’s growth, new non-statutory officers were set up. Among these were the Risks Area which as from December, has enjoyed its own structure for data protection given the need to make the necessary adjustments for compliance with the General Data Protection Law and under the management of the Corporate Compliance area. We believe that fashion should be conscious and responsible and its guidelines for sustainability orientate its activities in this direction. For this reason, the priority themes of sustainability of the business out to 2021 are enshrined in the strategic plan for Responsible Fashion. On this basis, the Sustainability Committee and the teams act in the continual identification and minimization of the socio-environmental risks which are critical to the value chain through major projects. As an external recognition of all the actions regarding sustainability theme, the Company continued to be a component of the Dow Jones Sustainability World Index 2019/2020 and B3’s Corporate Sustainability Index (ISE), in addition to being elected the best retail company in sustainable practices in the Guia Exame de Sustentabilidade. We would also like to emphasize that, even in the face of today’s uncertain outlook due to Covid-19, we are taking every step and precaution needed to preserve our employees, customers, suppliers and the community at large, as recommended by the Brazilian ministry of Health and according to the statements of the World Health Organization. To preserve the business, we are adopting every managerial action needed. Thus, in the light of the economic impacts of Covid-19, we will propose to shareholders at the upcoming Annual General Meeting distribution of FY 2019 earnings at the minimum mandatory dividend payout rate of 25% of the period’s earnings, as dividends and interest on shareholders’ equity, instead of the 50% announced in January 2020. We also revised down our 2020 capital budget, which will be BRL 560 million instead of the BRL 910 million announced before. We understand these to be the required measures at this point, and will remain attentive and diligent should the need arise for additional action. We have always come out stronger from previous crises, thanks to the strength of our brand, to our distinctive value proposition and to our team’s engagement, which we believe to be a trend
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